In the current investigation drive going all across India against the bogus registration, GST authorities would have fetched nearly 17000 non-existent GSTINs and cancelled over 4,900 registrations. Under Goods and Services Tax there are 1.40 cr businesses enrolled at present, pre-GST launch, there were almost twice as many enterprises registered under the indirect tax system.
Shashank Priya member of the Central Board of Indirect Taxes and Customs (CBIC) stated that in the ongoing drive against the bogus registration, for the physical verification till 4th July over 69,600 GST Identification Numbers (GSTINs) have been selected by the field tax officers.
Out of that, over 59,000 GSTINs would get authenticated and 16,989 would have been discovered to be nonexistent.
Over 11,000 GSTINs out of the 69,600 GSTINs would get suspended and cancellation of registrations for 4972 would have been initiated.
Over Rs 15,000 crore would have been engaged in tax evasion, Rs 1,506 crore was the input tax credit (ITC) blockage, and Rs 87 crore is the recovered taxes, Priya stated on the Assocham’s National Conclave on GST.
On 16th May the two-month-long special drive to curb the bogus registration under GST would take place and finishes on the date 15th July.
False registration is a problem under GST because stealers falsely claim ITC by providing fake invoices and stealing money from the exchequer.
Priya further stated that the tax administration is considering more comprehensive data reporting in monthly returns from GSTR-3B. This will aid in the better matching of GSTR-3B and GSTR-2B, which is an ITC statement generated automatically.
